Moran Wealth Management LLC Purchases Shares of 35,561 TD SYNNEX Co. (NYSE:SNX)

Moran Wealth Management LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,561 shares of the business services provider’s stock, valued at approximately $4,270,000.

Several other large investors have also recently modified their holdings of SNX. First Horizon Advisors Inc. increased its stake in TD SYNNEX by 3,731.9% in the 3rd quarter. First Horizon Advisors Inc. now owns 2,644 shares of the business services provider’s stock worth $317,000 after purchasing an additional 2,575 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of TD SYNNEX by 117.1% in the third quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock worth $151,000 after purchasing an additional 679 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of TD SYNNEX by 112.5% in the third quarter. Meeder Asset Management Inc. now owns 29,407 shares of the business services provider’s stock worth $3,531,000 after buying an additional 15,567 shares during the period. Pathstone Holdings LLC raised its holdings in TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 5,698 shares during the last quarter. Finally, Quest Partners LLC boosted its position in TD SYNNEX by 619.0% during the 3rd quarter. Quest Partners LLC now owns 7,248 shares of the business services provider’s stock valued at $870,000 after buying an additional 6,240 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

SNX has been the topic of a number of analyst reports. Barrington Research restated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays boosted their price target on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Loop Capital reiterated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $134.75.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the transaction, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 in the last 90 days. Insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Up 1.2 %

NYSE SNX opened at $116.06 on Thursday. The stock’s 50 day moving average is $118.66 and its 200 day moving average is $119.70. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.88 billion, a PE ratio of 15.01, a P/E/G ratio of 1.15 and a beta of 1.48. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the prior year, the firm earned $2.71 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio is currently 20.70%.

TD SYNNEX Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.